123jump.com Staff
13 Feb, 2008
New York City
Corporate Goods Price Index in Japan increased to 3% in January from 2.6% in December on the rising fuel and food prices. Financial Services Administration in Japan reported that sub-prime loan exposures to the U.S. loans of Japanese banks increased in January to 1.52 trillion yen and losses in last quarter ending in December rose to 600 billion yen. Shipping line companies gained on the talks of freight charge increases.
123jump.com Staff
13 Feb, 2008
New York City
Mumbai market rebounded after a week of volatile trading. Banks, real estate, and energy related stocks gained. Sensex gained 2.1% to close at 16,949.14 and Nifty increased 1.9% or 91 to close at 4,929 levels. The BSE realty index surged 4.4% or 396 and was the biggest gainer among the sector indices. Unitech, Puravankara, Anant Raj Industries and Housing Development & Infra were the leading gainers.
123jump.com Staff
13 Feb, 2008
New York City
Retail sales in January rose 0.3%, unexpectedly, lifting retail and consumer related stocks in the morning trading. weekly inventories report of crude oil showed a rise inventories by 1.1 million barrels. Deere sales and earnings rose above expectations and Coca Cola earnings rose on international sales. Online jeweler Blue Nile fell 15% after it reported lower than expected earnings rise.
123jump.com Staff
12 Feb, 2008
New York City
Third largest Swiss bank, Julius Baer filed with the SEC to sell its assset management unit in an initial public offering and raise as much as $1 billion through Goldman Sachs and Merrill Lynch. Credit Swiss Group reported earnings fall of 72% on Sfr1.2 billion of write downs of assets in high risk loans. sanofi-Aventis fourth quarter profit increased 6% tp 1.46 billion euros on cost cutting and higher sales of Plavix.
123jump.com Staff
12 Feb, 2008
New York City
U.S. stocks edged higher after an offer from Warren Buffett, chairman of Berkshire Hathaway,and Bush administration plan to help struggling home owners. Buffett offered $5 billion to extend reinsurance to $800 billion municipal bonds portfolio. Bond insurance companies did not show enthusiasm to the offer. Banks and financial stocks rallied but brokerage stocks fell in the afternoon. Oil and gold declined. Molson Coors led the gainers in the S&P 500 index with a rise of 9%.
123jump.com Staff
12 Feb, 2008
New York City
UK stocks rebounded on the back of rising commodities and energy stocks. The sharp gain in the financial markets in the U.S. and across the Europe helped the UK index. In [[London]] trading FTSE 100 stocks rallied 3.54% or 202.3 to 5,910. ICAP Plc led advancers with a rise of 7.16% followed by Vedanta Resources increasing 6.76% as the price of metal continued to gain on supply constraints that are currently plaguing China.
123jump.com Staff
12 Feb, 2008
New York City
U.S. stocks rallied after Warren Buffett made a low offer to support municipal bond reinsurance portfolio of $800 billion from three largest bond insurance companies. The U.S. also released a plan along with six major home lenders to help people who are on the brink of foreclousre, however the effort appears to be driven by political considerations. General Motors reported losses on the declining market share in the U.S.
123jump.com Staff
12 Feb, 2008
New York City
Industrial production in December declined to annual rate of 7.6% from 13.4%. the volatile index suffered from lower than expected output in mining, electricity, and manufacturing. For the nine months the index increased at a rate of 9.6% from 12.2%. Software companies fell as investors worried on the rising subprime losses in the U.S. New issue of J Kumar Infraprojects closed at 102.70 rupees, just above its offer price of 100 rupees.
123jump.com Staff
12 Feb, 2008
New York City
Warren Buffett, chairman of Berkshire Hathaway, made a low offer to reinsure $800 billion of municipal bond liabilites of three bond insurance companies, Ambac, MBIA, and FGIC. The offer was quickly rejected by one insurer and others did not show much enthusiasm. The Buffett offer includes only municipal bonds and does not cover any of the mortgage securities related liablities.
123jump.com Staff
12 Feb, 2008
New York City
In a subdued trading in Hong Kong, stocks recovered as oil and metal prices gained in the region. Oil added 2% and copper prices increased as worries mounted that continued weather related disruptions in China may prolong. Foreign exchange reserves increased $7.2 billion to nearly $160 billion at the end of January, according to HK Monetary Authority. PetroChina and CNOOC gained 2.5% and Aluminum Company of China added 2%. Jiangxi Copper surged 4%.
123jump.com Staff
11 Feb, 2008
New York City
Societe Generale priced its rights offering at a discount of 39%, more than expected, as investors braced for more losses in the financial sector. SG fell 4% after the issue of rights. Stocks in the sector fell after a comment from the German Finance Minister indicated that subprime loan losses could reach $400 billion. UBS and Commerzbank droped 3% and Aviva fell 4%. IKB Deutsche Bank fell 22% on the worries that bank will report more losses. Russia reported trade surplus declined by 5%.
123jump.com Staff
11 Feb, 2008
New York City
U.S. stocks rallied in the late afternoon after a steady rise in metals, oil and gas, precious metals prices. Nasdaq led the three poplular indexes with a rise of 0.6%. Oil climed 2% as Delaware based Valero refinery was closed for a power failure. Chevron and Bank of America were added to Do Jones Industrial Average. AIG tumbled 12% after it revised its estimate of losses to $5.9 billion from $1.1 billion and said that it can not value the losses in December 2007.
123jump.com Staff
11 Feb, 2008
New York City
American International Group Inc reported that it may lose $5.96 billion in a portfolio of credit default swaps on securities based on home loans which earlier was estimated to have a loss of only $1.604 billion. AIG stock fell 12%. PriceWaterhouseCoopers also said that there is a material weakness in the internal controls at valuing these securities, which prompted Fitch, rating agency to put the insurer on a possible downgrade from its current AA rating.
123jump.com Staff
11 Feb, 2008
New York City
December month deficit in goods and services increased to
123jump.com Staff
11 Feb, 2008
New York City
U.S. stocks traded in a tight range after the European banks declared more losses related to subprime and leveraged loans. Dow Jones replaced Altria and Honeywell from the index with Chevron and Bank of America. The index has been rebalanced for the first time after three years since its last change when three out of thirty components were replaced.
